industry. In June 2018, Vedanta Limited acquired the management control of ESL through the Corporate Insolvency Resolution Process initiated for addressing resolution of non-performing assets of … Diversified metals & mining conglomerate Vedanta Ltd has posted a 17 per cent growth in aluminium production, buoyed by stabilisation and ramp-up of its smelters at Jharsuguda (Odisha). As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Support quality journalism and subscribe to Business Standard. With an aluminium output of 1.95 million metric tons in the previous fiscal year, Vedanta Ltd. moved into the pole position for aluminium production among India’s smelters, bumping previous leader Hindalco out of the prime spot. Track stock prices in your portfolio. We, however, have a request. London’s Vedanta Resources plc released production numbers for the second quarter and first half of 2016 yesterday, reporting a record aluminium output of 296,000 metric tons for the second quarter.. On the corporate side, highlights for the quarter included shareholder approval of the Vedanta/Cairn India merger, a deal that is expected to close in the first quarter of calendar year 2017. Operative in Orissa, which has huge bauxite and coal reserves, VL leverages its accessibility to cheap, skilled labour and vast captive mineral resources to work out a favourably low production cost structure. Since the Jamkhani coal reserve is located close to Vedanta's aluminium smelting units at Jharsuguda- a standalone smelter and a Special Economic Zone (SEZ), it is expected to help the company achieve cost competitiveness in metal production. Vedanta said aluminium production for the three months to the end of September rose 25.3 percent to 99,000 tonnes. Support quality journalism and subscribe to Business Standard. Get a daily email with all the news updates on them. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. This product is a monthly auto renewal product. Enjoy Reading! Meanwhile, rival Hindalco Industries has agreed to sell Vedanta surplus alumina from its 1.5 mt Utkal refinery in Raygada. Power is a critical input in aluminium smelting and typically … We believe in free, fair and credible journalism. Aluminium output at Vedanta-owned Bharat Aluminium Company (BALCO) smelters at Korba (Chhattisgarh) remained flat. Vedanta owns 70.5% of the share capital of Vedanta Aluminium and Sterlite owns the remaining 29.5% share capital of Vedanta Aluminium. On this occasion, Rahul Sharma, CEO-Alumina Business, Vedanta Ltd. said, “We are proud to be a part of the group’s vision to contribute towards the country’s self-reliance by producing high quality raw material for aluminium production, a strategic metal for the nation. The production of copper cathodes was 384 kt in FY16. Total mined metal production in 2015-16 was 123 kt and 182 kt of finished copper. Jayajit Dash  |  Vedanta is eyeing aluminium production cost of $1500 per tonne in the near term. We believe in free, fair and credible journalism. Vedanta’s aluminium production in November was stable while silver production was up 14% on-year basis. At a time when the Covid-19 pandemic has sucked demand and pressured international prices, Vedanta Ltd has pruned its aluminium Cost of Production (CoP) by 20 per cent year-on-year (y-o-y) to $1451 per tonne. Business | Press Trust of India | Monday October 10, 2016 . Exclusive content, features, opinions and comment – hand-picked by our editors, just for you. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. HZL is … Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Track the industry of your choice with a daily newsletter specific to that industry. Vedanta Resources said its current aluminium production rate is 1 million tons per annum and that the company’s overall production guidance for the current financial year remains unchanged at 1.2 mtpa. Earlier, Vedanta had planned to cut its CoP to $1,700 per tonne by the end of this financial year. Unlimited access to all content on any device through browser or app. To cancel, communicate from your registered email id and send the mail with the request to, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). NEW DELHI: Mining and metals giant Vedanta aims to contain cost of its aluminium production to $1,500 per tonne from over $1,700 to overcome the cost pressure amid softening international rates. Digital Editor. Abhijit Pati, chief executive officer (aluminium) at Vedanta Ltd, said the company is undertaking this on the back of a favourable order from Odisha … Vedanta Limited. BHUBANESHWAR: Metals and mining major Vedanta Resources plans to ramp up aluminium production from Jharsuguda and Korba smelters of Bharat Aluminium Co to 1.5 million tonnes from 0.9 mt this financial year, a top official said. Kindly visit the Manage my subscription page to discover the benefits of this programme. To cancel, communicate from your registered email id and send the mail with the request to, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). Track stock prices in your portfolio. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Despite the hurdles, Vedanta posted a record aluminium production … As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. “. Diversified metals & mining conglomerate Vedanta Ltd has posted a 17 per cent growth in aluminium production, buoyed by stabilisation and ramp-up of its smelters at Jharsuguda (Odisha). This is in line with Vedanta Resources’ objective of claiming a position in the top decile of global low cost aluminium producers. Vedanta Ltd had bagged the Jamkhani block at competitive auctions in Odisha. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Vedanta Aluminium Limited (VAL) has acquired a 24.5% stake in L & T subsidiary Raykal Aluminium. Copper cathode output in India … HZL is one of the world's largest integrated zinc-lead producer by volume. Get a daily email with all the news updates on them. (VL) is renowned for its superior metallurgical grade alumina and other high quality aluminium products. Focus on structural cost reduction helped diversified metals and mining titan Vedanta Ltd to prune Cost of Production (CoP) of aluminium by 12 per cent to $1769 per tonne during April-December of this fiscal. We, however, have a request. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. The product is a monthly auto renewal product. Pick 5 of your favourite companies. To cancel, communicate from your registered email id and send the email with the cancellation request to. 79.4% of our Zambian copper business (Konkola Copper Mines is directly owned by Vedanta Resources. Bhubaneswar  Vedanta Limited is an associate company of the London Stock Exchange listed, FTSE 100 diversified resources group Vedanta Resources Plc. Vedanta hopes to keep its aluminium production cost low by using power from its own 2,400 Mw (4x600 Mw) coal-fired plant in the vicinity of its Jharsuguda smelter. Unlimited access to all content on any device through browser or app. ... History of Aluminium: Facts About Aluminium : Aluminium Production - Mining - Refining - Smelting - Casting. The product is a monthly auto renewal product. Between April and December 2019, Vedanta slashed cost of alumina making by 16 per cent to $281 per ... Key stories on business-standard.com are available to premium subscribers only. This product is a monthly auto renewal product. Vedanta  |  Aluminium  |  Odisha, Jayajit Dash  |  Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. We extract and process minerals, oil and gas, engage more than 65,000 employees and contractors, primarily in India, Africa, Ireland and Australia. Vedanta is India’s largest producer of ‘green metal’ aluminium, producing more than half of India’s aluminium or 1.9 million tonnes per annum (MTPA) in FY2020. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. The statistic shows the aluminum production volume by Vedanta Group in India from the financial year 2014 to 2016. It’s already the largest producer of aluminium in India. 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In the period under review, Vedanta Ltd achieved 24 per cent surge in alumina output at its Lanjigarh alumna refinery in Odisha. Your support through more subscriptions can help us practise the journalism to which we are committed. Vedanta forayed into the steel business through acquisition of 90% stake in ESL Steel Limited (ESL). Aluminium. Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. Bhubaneswar  Vedanta Resources Limited is a globally diversified natural resources company. Production from its captive Jamkhani coal block is expected to help Vedanta Ltd inch closer to its avowed aluminium Cost of Production (CoP) of $1,500 per tonne. Track the industry of your choice with a daily newsletter specific to that “A few formalities remain to be completed with the state and regulators before we can ramp up smelter production from 0.5 to 0.8 million tonne,” said Abhijit Pati, chief executive of Vedanta’s aluminium business. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Vedanta aluminium maintains production guidance despite power failure 29 Aug, 2016, 04.41 PM IST "The current run rate of aluminium production is around 1 MTPA and the overall 2016-17 volume guidance remains unchanged at 1.2 MTPA," the company said. Stay on top of your investments. The company has two state-of-the-art aluminium smelters at Jharsuguda, (Odisha) and at BALCO in Korba, (Chhattisgarh), with a total installed capacity of 2.2 MTPA. Aluminium Markets - Global Demand and Supply Dynamics - Growth Aspects. Vedanta says its capex plans going forward will see it become the world’s largest zinc producer and place it among the Top 3 in silver production, says Chairman Navin Agarwal. Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. Track the industry of your choice with a daily newsletter specific to that industry. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Vedanta Aluminium, a part of Vedanta Limited, is India's largest producer of aluminium, producing 1.95 million tonnes per annum (MTPA) in FY19. Vedanta’s near term target is to reduce aluminium CoP to $1,500 per tonne. Vedanta Resources plc 16 Berkeley Street London W1J 8DZ Tel: +44 (0) 20 7499 5900 Fax: +44 (0) 20 7491 8440 www.vedantaresources.com 11 April 2017 Vedanta Resources Plc Production Release for the Fourth Quarter and Full Year ended 31 March 2017 Record annual production at Aluminium, Power, Zinc India (Zinc and Silver) and at Copper – India VL operates a world class greenfield refinery complex in Lanjigarh with an existing capacity of 1 mtpa and an associated 75 MW captive power plant; the refinery is expected to reach a capacity of 5 mtpa in near future. industry. 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